Blockchain Business Value Projected To Hit $2 Trillion
By the year 2030, businesses linked to the blockchain technology might be valued at $2 trillion. This is according to a study by IHS Market. In the report by the data analysis firm, the business will entail all the value added by blockchain.
However, experts believe that the value might be conservative considering that the year 20130 is over a decade away. Notably, blockchain uptake is rapidly growing despite the recent drop in prices of major cryptocurrencies. At the moment, almost all sectors are embracing patent and partnership. The growing capacity of patents is an indication that in future we might have a huge adoption in enterprise ventures.
The report comes after CCN report indicated that during the bull run last year, the $1 trillion mark was almost reached by activities in the market. Financial institutions, e-commerce, public sector, media and energy companies are warming up to the blockchain.
The report by CCN also noted that blockchain has increased job opportunities for many people. Authorities across the globe are inventing ways of attracting blockchain based business through the provision of smooth laws. However, the blockchain vertical’s potential is yet to be realized.
A unique aspect that has come out is that patents are presenting an interesting application for blockchain technology. By 2030, the vertical might present a different scenario after the initial hype reaches maturity. If this unique feature is realized, then it means more jobs will be created.
Additionally, enterprises are striving to hire manpower that will speed up the use of cryptocurrencies. Some institutions of higher learning such as Stanford and IBM are ahead of the pack by providing courses for workers outside the traditional college line.
However, regulations by global authorities is still a major concern. From the past, crypto growth has led to delayed regulations that are forcibly implemented.